Simon Property (SPG) has shared an announcement.
On August 29, 2024, Simon Property Group awarded senior employees, including executive officers, a total of 585,902 long-term incentive plan units and restricted stock after the successful sale of its interest in Authentic Brands Group, which generated $1.5 billion. This award aligns with shareholder-approved executive compensation plans, featuring a five-year vesting period for top executives to reinforce long-term commitment and performance. The Committee chose not to allocate a portion of the awards, retaining it for the company, and determined the individual awards based on the closing stock price at the time of the grant.
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